HC Wainwright set a $40.00 price objective on Sorrento Therapeutics (NASDAQ:SRNE) in a research note published on Wednesday, TipRanks reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages also recently issued reports on SRNE. BidaskClub downgraded shares of Sorrento Therapeutics from a sell rating to a strong sell rating in a research note on Wednesday, April 3rd. B. Riley lifted their price target on shares of Sorrento Therapeutics from $10.50 to $12.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. ValuEngine downgraded shares of Sorrento Therapeutics from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research downgraded shares of Sorrento Therapeutics from a hold rating to a sell rating in a research note on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Sorrento Therapeutics presently has a consensus rating of Hold and an average target price of $20.67.
Shares of Sorrento Therapeutics stock opened at $3.89 on Wednesday. The firm has a market capitalization of $496.46 million, a PE ratio of 29.92 and a beta of 2.64. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.91 and a current ratio of 2.91. Sorrento Therapeutics has a 1 year low of $1.80 and a 1 year high of $8.25.
Sorrento Therapeutics Company Profile
Sorrento Therapeutics, Inc, a clinical stage biotechnology company, primarily engages in the discovery and development of therapies focused on oncology and the treatment of chronic cancer pain worldwide. It offers resiniferatoxin, a non-opioid-based TRPV1 agonist neurotoxin for the treatment of intractable pain treatment; and ZTlido, a lidocaine delivery system for the treatment of postherpetic neuralgia.
Further Reading: Average Daily Trade Volume – ADTV
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